American Bitcoin announced that its Bitcoin holdings reached 8,000 BTC and executed a 1‑for‑15 reverse stock split to meet Nasdaq’s minimum bid requirement. The company, which filed its first‑quarter 2026 results with the SEC, reported growing its Bitcoin reserve from about 7,021 BTC at the end of March to 8,000 BTC, mining 817 BTC and purchasing 803 BTC during the quarter. Mining revenue was $62.1 million, while the firm posted a net loss of $81.8 million, negative adjusted EBITDA of $91.3 million and a $117.2 million loss on digital assets. Gross mining margin remained above 50% despite a roughly 22% quarter‑over‑quarter decline in Bitcoin’s price, and the cost to mine fell to about $36,200 per BTC. Shareholders approved a reverse split range of 1‑for‑5 to 1‑for‑40 at a June 22 meeting, and the board later adopted a 1‑for‑15 ratio. The split took effect after the market closed on July 2 and began trading on Nasdaq on July 6. The company said the split was intended to raise the Class A stock price to satisfy Nasdaq’s listing standards and to improve liquidity, though it noted risks that the price may not rise proportionally, new investors may be deterred, and liquidity could decline for holders with odd‑lot positions. The market value of American Bitcoin remains under pressure, trading near $64,000, about 50% below its October 2025 peak. Investors must assess whether the growing Bitcoin reserve can justify the stock price without further dilution from potential future share issuances, and the firm’s ability to fund additional Bitcoin purchases through mining and purchases rather than equity raises will be a key factor in determining the sustainability of its treasury strategy.